Marine coatings are the protective coatings applied on the surface of the ships, cruises, vessels, yachts and other offshore structures (oil rigs, bridges) exposed to the sea water and corrosive conditions. The marine coatings are applied on the above mentioned surfaces to protect against corrosion, fouling and slimes thus increasing the durability and life of the marine vessels and offshore structures. The need for dry-docking of vessels subsequently, new ship building activities and the growth in offshore drilling is propelling the growth of global marine coatings market. The shipping trade is also growing globally, which is one positive factor for the growth of global marine coatings market. The demand for VOC free and environment friendly marine coatings among the customers are gaining popularity, hence new trends are being employed by marine coatings manufacture to achieve this specifications of consumers and to comply with government norms. The global marine coatings market is expected to project a healthy CAGR over the period of forecast.
Request For TOC@ https://www.persistencemarketresearch.com/toc/10178
On the basis of chemical base, the global marine coatings market is divided into:
Epoxy based coatings
Polyurethane based coatings
Water based & low VOC’s based coatings
On the basis of product type, global marine coatings market is divided into:
Others (barrier coatings, cargo tank coatings)
On the basis of application, global marine coatings market is divided into:
Offshore civil structures
Others (cruise liners)
The global marine coatings market has been divided into seven key geographical regions which includes North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa. The North American market for marine coatings is showing a slow-moving growth because of the small size of the marine industry in the region. The market for marine coatings in the Europe region is just above North American market in terms of market growth but with a slower rate. The APEJ marine coatings market is currently dominating in the global marine market and will pose a healthy growth rate over the forecast period. In the APEJ region, the consumption of marine coatings has shown an incredible growth with China on the top of the list in terms of consumption in the APEJ region and globally which is mainly because of the growth in new ship building activities, maintenance and dry-docking activities in the region. South Korea marine coatings market is trailing behind China. Japan marine coatings market is in the third position in terms of market share. There has been an increase in the number of ship owners in Singapore which is expected to propel the market for marine coatings in the APEJ region. The Indian market is also expected to emerge as a strong contender in the marine coatings market in the forecast period. Overall, the global marine coatings market is foreseen to register a healthy single digit CAGR.
You Can Checkout This Complete Report@ https://www.persistencemarketresearch.com/checkout/10178
Some of the major players identified in the global marine coatings market include Akzo Nobel N.V, PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems, LLC, BASF, KANSAI PAINT CO.,Ltd, Nippon Paint Marine Coatings Co. Ltd, PPG Asian Paints Private Limited, Jotun, Hempel Foundation, Mascoat, Comex, KCC corporation, Chugoku Marine Paints, Ltd, National Paints Factories Co. Ltd.
Explore Extensive Coverage of PMR`s
Chemicals and Nanomaterials Industry
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – email@example.com
Website – https://www.persistencemarketresearch.com